Cost of Living in Gothenburg, NE

With a cost of living index of 71, Gothenburg, NE is one of the most affordable cities in the country. Living here is 29% cheaper than the national average and in line with the Nebraska state average. Gothenburg is a small community of 3,436 residents.

Housing costs are the biggest factor in Gothenburg's cost of living. The median monthly rent is $838 (36% below the US median of $1,319), and the median home value sits at $173,200 (43% below the national median of $304,900). At current prices, the median home costs roughly 2.2x the median household income — well within traditional affordability guidelines.

The median household income in Gothenburg is $79,519, which is 6% higher than the national median of $75,149. Residents spend roughly 13% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Gothenburg. The area sees an average annual temperature of 49.9°F, with summers averaging 73°F and winters around 28°F. Annual rainfall totals 21.1 inches spread over roughly 88 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.